What is the
definition of "U-6 Unemployment Rate"?
The unemployment number that is most often used in
the media (and by the government) is known as the "U-3". This number
was 8.1% in February of 2009.
The "U-6" is considered to be a broader
measure of the unemployment situation in the United States.
The "U-6" includes two groups of people
that the "U-3" does not:
1.
"Marginally attached workers" - people who are not actively
looking for work, but who have indicated that they want a job and have looked
for work (without success) sometime in the past 12 months. This class also
includes "discouraged workers" who have completely given up on
finding a job because they feel that they just won't find one.
2.
People who are looking for full-time work but have to settle on a
part-time job due to economic reasons. This means that they want full-time
work, but can't find it.
Two pretty important groups of people, no?
The "official" unemployment number is the
"U-3" - this is 8.3% as of July 2012.
The "U-6" is a whopping 15.0% as of July
2012.
Here is the U-6 Unemployment Figures Charted from
2001.
Here are the individual Month-by-Month U-6
Unemployment Figures – 2000 to Present.
Here is the U-1 through U-6 figures of unemployment by individual state Q-3 2001
through Q-2 2012.
For all the trillions in bailouts, stimulus and
spending we have not produced new jobs – and never will. My next post will
tackle the historically recorded facts that show the clear difference between Government
Stimulus vs. Free Enterprise that actually generates a robust economic growth and
real jobs that come from a pro-business government policy.
Still want to vote for Obama? I pray not.
Sources
United State Bureau of Labor Statistics
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